I graduated 2013…I completely agree. The first 5+ years out, debt was the dominant factor in all of my life decisions. Really regretted it at the time…and it’s worse now than it was then
Dr A, I couldn’t agree with you more. My husband is a dentist and we have had this same discussion many times regarding our children. He loves what he does and he makes a good living. It provides everything we need BUT things have changed. We just can’t recommend it to anyone. Thank you for providing this information to others.
I agree to a certain extent. I feel like it depends on the school and overall debt load. 100k-200k isn't that bad. Anything over 300k is definitely worrisome.
I COMPLETELY agree Dr. B. There is an easier way to make a living. It sucks for those already went to school and did the path, the world w private equity in dentistry and politics/insurances is making it worse and worse.
Yes! Absolutely Agreed! I was lucky to get into a state dental school, but I also remember applying to out of state private schools, and OMG! The burdening debt that you will be saddled with for the remainder of your life will hamper your ability to have any quality of life! The numbers simply don't make sense! The debt load, however, is not the only concern with pursuing a dental degree! This high dental school cost has also brought about more new dentists on the market which has caused increased saturation in the job market, especially in bigger cities! So, you have an impossibly high debt load, fierce competition from more dentists for fewer jobs! This is a recipe for disaster in more ways than one!! Pre-dental students need to seriously be made aware of this issue before they make a decision they will regret forever! This really should be talked about more with pre-dental students!
The biggest DSO in the country offers 120k or 25% collections (about 1500 offices). With 400k plus, gaining 2k plus a month in interest alone, with no signs of this slowing down, this career makes no sense. A 4 to 1 debt to income ratio is depression territory and will basically be forced to postpone major life events.
Yeah as. a dental student. I agree with this. I also don't think its worth it to go for dentistry anymore just for money. Its too much debt for not enough income. The interest kills you while ur still considered to be at the higher TAX bracket. The gov doesn't care what school debt you have. I am just lucky that I have parents willing to help me pay it off. The dental salary seems nice but yeah I agree ppl don't realize how burdening the debt it even though its considered to be one of the top jobs in the health care fields for quality of life. A good amount of schools cost like 300 to 400k before interest going up to like 450k to 500k after interest. Then you buy a practice to actually make money which is like another 500k debt on the low to average end. Yeah can you make money if you go to some remote place where no one wants to really live. But then I would say you can make more by doing a different degree like computer science and just moving there. . Will you be dirt poor. No.But u won't be balling like the older dentist what's so ever or other careers. If your a student that got into dental school then it probably means you were smart enough and had a high gpa to do other things like computer science and get a high GPA. Imagine if you got serious and for 4 years studied comp science from 8am to about 9pm everyday for 4 years after doing your undergrad 2 yr degree in comp science. (undergrad for dental students is 4 yrs of non dental related sciences to get a 3.5gpa) You don't think you will be specialized enough with like zero to low debt? You will likely earn more doing something else. So yeah he is right for all the ppl in the comments below bringing up other fields. Its not worth it for money. You will break you neck and back by the end of the career for a not so cushy field. The idea of a job caring for ppl is nice when your not worried about like having money for your kids food and college expenses and a house. I have lots of dental professor who tell me they don't think its worth it for money/lifestyle anymore. U won't be living a decent lifestyle for a long time while in other careers you will be set. Ooo and btw I am assuming u don't get cancer, get hit by a car, or some other disability to ur hands/neck/shoulders till you're like 45 to 50.
I’m 8 years out and I agree. I’m doing decently well now after almost a decade post-grad but wonder how Much further along I would be if I hadn’t spent the first five years of earning dealing with the load of debt
I just realized interest rates going up is not going to cause tuition prices to go down which causes a perfect storm in non-serviceable debt for people who borrow for professional degrees.
I told both of my kids to not pursue medicine or dentistry.....on top of tuition you've got insurance companies running your life and dso's on the rise. Its a lose, lose, lose situation.
I graduated in 1976 and had no debt to speak of upon graduation.(now retired) Still I do not recommend the profession. Insurance companies constantly affecting your fees. Risk of disease. Back aches. Risk of lawsuits. Difficult patients who don't want to pay. Government telling you what to do. When you don't own the practice nor the facility you practice in, you are subject to the whims of others. Having the huge debt that is now the norm makes the choice to not become a dentist very easy. Sure, some dentists have a great career, but they are fewer and fewer.
Couldn’t agree more! Let’s pick some random numbers. Imagine your dental school costs $400K with 7% interest. If you want to pay that back in 10 yrs, then you have to pay $4,644 per month for 10 years paying pack $557K in total which $157K of it is interest. Now lets say you’re making 200K before tax as a general dentist in Texas (Dallas or Houston greater area), then you gonna be left around 10K monthly after tax and 401K deduction. Keep in mind Texas doesn’t have state income tax. So after taxes and paying your monthly student loans, you will be left about 5K to 6K monthly. Can you make this money in other careers (Engineering / Finance) with much less debt? Absolutely! I think dental school is not worth it financially, but its worth it if its your passion!
Medicine is a better deal as you can qualify for PSLF since most hospitals are 501c-3. Meaning that you can get your debt forgiven within 6-7 years after residency( assuming that residency is also through a non for profit hospital). Starting pay for a generalist is 250k . That’s base with no experience, it’s up from there.
I would say no more than 250k, but that's nearly impossible unless you get into a public state school, receive an institutional backed scholarship, apply for the HPSP (Military), or NHSC.
Kindly help.I am foreign trained dentist personally I like dentistry but personally m above 30 n dont knw if I could handle so much debt... still thinking for dds BUT can u pls tell is there any good alternative like mha or mba healthcare? I knw they dont pay as much but still can these degree pay well or land jobs? Kindly help. Thanku.
Naw he's speaking facts, tuition is constantly rising and trust me when I say it adds up! The interest on our loans accumulate while we are in school! A lot of people are going to be in for a rude awakening once they receive their first student loan bill- myself included smh!
@@tezh5897 I’m in school now. I graduate 2023. I recently got a scholarship to pay for the rest of my tuition so I might be in okay condition. But I see where you’re coming from
I graduated 2013…I completely agree. The first 5+ years out, debt was the dominant factor in all of my life decisions. Really regretted it at the time…and it’s worse now than it was then
Dr A, I couldn’t agree with you more. My husband is a dentist and we have had this same discussion many times regarding our children. He loves what he does and he makes a good living. It provides everything we need BUT things have changed. We just can’t recommend it to anyone. Thank you for providing this information to others.
I agree to a certain extent. I feel like it depends on the school and overall debt load. 100k-200k isn't that bad. Anything over 300k is definitely worrisome.
Things have changed far too drastically. It’s not worth it at this time. Maybe it’ll be better in the future, but it’s a hard no right now
I COMPLETELY agree Dr. B. There is an easier way to make a living. It sucks for those already went to school and did the path, the world w private equity in dentistry and politics/insurances is making it worse and worse.
Amen! Great to hear from you, Jennifer!
Yes! Absolutely Agreed! I was lucky to get into a state dental school, but I also remember applying to out of state private schools, and OMG! The burdening debt that you will be saddled with for the remainder of your life will hamper your ability to have any quality of life! The numbers simply don't make sense!
The debt load, however, is not the only concern with pursuing a dental degree! This high dental school cost has also brought about more new dentists on the market which has caused increased saturation in the job market, especially in bigger cities!
So, you have an impossibly high debt load, fierce competition from more dentists for fewer jobs! This is a recipe for disaster in more ways than one!!
Pre-dental students need to seriously be made aware of this issue before they make a decision they will regret forever!
This really should be talked about more with pre-dental students!
Amen!! Please share this video far and wide!!
Bless you for this. I love how you said “at this time”, too!
He was right because the economy is getting worse!
Things may be better in the future. We never know. But right now, it’s not worth it.
The biggest DSO in the country offers 120k or 25% collections (about 1500 offices). With 400k plus, gaining 2k plus a month in interest alone, with no signs of this slowing down, this career makes no sense. A 4 to 1 debt to income ratio is depression territory and will basically be forced to postpone major life events.
Finally put in my 3 months notice for this DSO after 3 years with them. Not a wonderful experience, but I learned a lot!
HARD FACTS!
@@TJ-ez6oi Are you thinking practice ownership?
I appreciate your honesty
Yeah as. a dental student. I agree with this. I also don't think its worth it to go for dentistry anymore just for money. Its too much debt for not enough income. The interest kills you while ur still considered to be at the higher TAX bracket. The gov doesn't care what school debt you have. I am just lucky that I have parents willing to help me pay it off. The dental salary seems nice but yeah I agree ppl don't realize how burdening the debt it even though its considered to be one of the top jobs in the health care fields for quality of life. A good amount of schools cost like 300 to 400k before interest going up to like 450k to 500k after interest. Then you buy a practice to actually make money which is like another 500k debt on the low to average end. Yeah can you make money if you go to some remote place where no one wants to really live. But then I would say you can make more by doing a different degree like computer science and just moving there. . Will you be dirt poor. No.But u won't be balling like the older dentist what's so ever or other careers. If your a student that got into dental school then it probably means you were smart enough and had a high gpa to do other things like computer science and get a high GPA. Imagine if you got serious and for 4 years studied comp science from 8am to about 9pm everyday for 4 years after doing your undergrad 2 yr degree in comp science. (undergrad for dental students is 4 yrs of non dental related sciences to get a 3.5gpa) You don't think you will be specialized enough with like zero to low debt? You will likely earn more doing something else. So yeah he is right for all the ppl in the comments below bringing up other fields. Its not worth it for money. You will break you neck and back by the end of the career for a not so cushy field. The idea of a job caring for ppl is nice when your not worried about like having money for your kids food and college expenses and a house. I have lots of dental professor who tell me they don't think its worth it for money/lifestyle anymore. U won't be living a decent lifestyle for a long time while in other careers you will be set. Ooo and btw I am assuming u don't get cancer, get hit by a car, or some other disability to ur hands/neck/shoulders till you're like 45 to 50.
I’m 8 years out and I agree. I’m doing decently well now after almost a decade post-grad but wonder how Much further along I would be if I hadn’t spent the first five years of earning dealing with the load of debt
@@danielz8925 how much debt did you accumulated after finishing your dental school?
@@harvestingseason2725 $384,299
@@danielz8925 :O
@@danielz8925 Sh*t is real man!!!! And to think that was almost a decade ago.
I just realized interest rates going up is not going to cause tuition prices to go down which causes a perfect storm in non-serviceable debt for people who borrow for professional degrees.
Precisely
I told both of my kids to not pursue medicine or dentistry.....on top of tuition you've got insurance companies running your life and dso's on the rise. Its a lose, lose, lose situation.
Amen!!!!
I graduated in 1976 and had no debt to speak of upon graduation.(now retired) Still I do not recommend the profession. Insurance companies constantly affecting your fees. Risk of disease. Back aches. Risk of lawsuits. Difficult patients who don't want to pay. Government telling you what to do. When you don't own the practice nor the facility you practice in, you are subject to the whims of others. Having the huge debt that is now the norm makes the choice to not become a dentist very easy. Sure, some dentists have a great career, but they are fewer and fewer.
Excellent points!
1976 …. The golden age for dentists… nowadays It’ s not worth it.
Couldn’t agree more!
Let’s pick some random numbers. Imagine your dental school costs $400K with 7% interest.
If you want to pay that back in 10 yrs, then you have to pay $4,644 per month for 10 years paying pack $557K in total which $157K of it is interest.
Now lets say you’re making 200K before tax as a general dentist in Texas (Dallas or Houston greater area), then you gonna be left around 10K monthly after tax and 401K deduction. Keep in mind Texas doesn’t have state income tax.
So after taxes and paying your monthly student loans, you will be left about 5K to 6K monthly.
Can you make this money in other careers (Engineering / Finance) with much less debt? Absolutely!
I think dental school is not worth it financially, but its worth it if its your passion!
You also have to pay 40% of income tax
Dental School administrators better not be watching. Education is a business...
So, the only way would be to join the armed forces and go through an apprenticeship to obtain a costly profession like yours. Does that sum it up?
Or if you have rich parents lol. Dental school debt is no joke, especially if its 500k with a 7% interest rate!
so if not dentistry, then what? Law? Medicine?...
Hate when people point out problems without a solution
Medicine is a better deal as you can qualify for PSLF since most hospitals are 501c-3. Meaning that you can get your debt forgiven within 6-7 years after residency( assuming that residency is also through a non for profit hospital). Starting pay for a generalist is 250k . That’s base with no experience, it’s up from there.
Go to hygiene school. You’ll make 60,000-80,000 a year with 1/10th the debt load
@@alessandrobartoletti195 and study load
BRO THANK YOU
Of course!!
I’m a Swedish citizen and it’s free for me to study it, would you recommend it ?
Different system. You should shadow dentists to see if you like the field
What do you think is the maximum debt load someone should consider to still attend?
I would say no more than 250k, but that's nearly impossible unless you get into a public state school, receive an institutional backed scholarship, apply for the HPSP (Military), or NHSC.
your gonna be in debt no matter what... does not matter which school or path way you decide to do. you cannot avoid debt.
You can avoid debt by not going. College truly is money making scam.
Yeah but 50k and 500k in student loan debt are two completely different things!
You can avoid debt through military service.
Kindly help.I am foreign trained dentist personally I like dentistry but personally m above 30 n dont knw if I could handle so much debt... still thinking for dds
BUT can u pls tell is there any good alternative like mha or mba healthcare?
I knw they dont pay as much but still can these degree pay well or land jobs?
Kindly help.
Thanku.
Anything but dentistry
SHts got too fkd w COVIDDDDDDDDD
kinda shitty take it if you ask me. I think he’s just trying to discourage people to prevent saturation.
Naw he's speaking facts, tuition is constantly rising and trust me when I say it adds up! The interest on our loans accumulate while we are in school! A lot of people are going to be in for a rude awakening once they receive their first student loan bill- myself included smh!
@@tezh5897 when you graduate?
@@tezh5897 I’m in school now. I graduate 2023. I recently got a scholarship to pay for the rest of my tuition so I might be in okay condition. But I see where you’re coming from
@@tezh5897 wait……… is this who I think it is???? Lmaooooo bruh!
@@BB-fc3it I'm exactly who you think I am "bruh." Congratulations on your scholarship- every little bit helps!
This guy is a clown.
Why
This guy is right
@@user-lu6yg3vk9z pls elaborate
Because I’m right?
Prove me wrong.
I’ll expect your logical answer on February 30th.